WILLEMSTAD – More than 16,000 households are registered as seeking a home in Curaçao as Fundashon Kas Popular (FKP) prepares an ambitious expansion of the Mi Kas Awor program aimed at building 370 affordable homes during its first year.
The new target represents a significant increase from the earlier objective of 72 homes and comes as Curaçao continues to struggle with a structural shortage of affordable housing.
According to FKP, Curaçao needs approximately 870 additional homes every year to keep up with demand, while current annual production stands at around 697. Only about one in four newly constructed homes is aimed at low-income households.
FKP and the Curaçao government have jointly committed ANG 2 million to the program, which according to the presentation is to be included in the 2027 budget.
Mi Kas Awor is intended to help more low- and middle-income residents become homeowners rather than remain dependent on subsidized rental housing.
Households earning up to ANG 2,500 per month could qualify for ANG 20,000 in assistance toward their initial payment. Depending on their income category, families may also qualify for support with monthly housing costs.
FKP plans to use higher-density construction, with the first phase based on approximately 100 homes per hectare. The organization argues that this approach allows infrastructure to be developed more efficiently while preserving more space for greenery and community facilities.
The housing shortage is compounded by the age of Curaçao’s existing housing stock. FKP, citing Central Bureau of Statistics figures, says approximately half of the island’s homes are more than 50 years old.
Several factors will be considered when allocating the new homes, including household income, time spent on the waiting list, points accumulated within the FKP system, demonstrated savings behavior and special social or medical circumstances.
FKP also expects the construction program to stimulate the economy. The organization estimates that construction of 370 homes could directly and indirectly support 860 jobs, including around 670 in construction and another 190 in related sectors. These figures are FKP’s own projections.
Banks, contractors and pension funds are expected to participate in the program. Banks would provide mortgages partly supported by government assistance, contractors would develop projects and pension funds could provide long-term capital.
The scale of the waiting list, however, illustrates the challenge ahead: even 370 additional homes would address only a fraction of the demand represented by more than 16,000 registered households.